Investor Presentaiton
Cost of risk of 66 bps for 1Q2021
Group Financial Results for quarter ended 31 March 2021
Bank's IFRS 9 Macroeconomic assumptions
1.18%
1.12%
1.00%
Base line
GDP rate
Unemployment rate
0.43%
2021
3.9%
9.0%
0.66%
0.29%
COVID-19
2022
3.4%
8.1%
0.75%
0.37%
FY2018
FY2019
FY2020
1Q2021
bps
200
76
97
99
66
200
152
88
Charge
30
107
110
(bps)
58
17
37
92
53
33
6-
43
22
40
58
51
14
32
14
16'
1Q2020
2Q2020
3Q2020
4Q2020
1Q2021
Reversal
-10
-11
(bps)
-26
-76
92
29
•
Cost of risk of 66 bps for 1Q2021 (€20 mn), of which 29 bps
(€9 mn) reflect the impact of IFRS 9 Forward Looking
Information (FLI) driven by the update of macroeconomic
assumptions in 1Q2021
Cost of risk includes a reversal of 26 bps driven mainly by
the migration of €357 mn loans that were under expired
moratorium from Stage 2 to Stage 1 (refer to slide 29)
Interest on net NPEs not received in cash fully provided;
reduced to 22 bps in 1Q2021 following Helix 2 sale (€8 mn
in 1Q2021)
COVID-19
Interest on net NPEs not received in cash
New lending
Stage 3
Stage 1 & 2
Loan credit losses charge (cost of risk) (year to date) is calculated as the annualised 'loan credit losses' (as defined) divided by average gross loans. The average gross loans are calculated as the average of the opening balance and the closing balance for the reporting period/year
1)
Bank of Cyprus Holdings
30View entire presentation